Receive guidance through writing a business plan for your new business, and learn some ideas and tips to consider as you begin to make your idea a reality.
Since taking MEI606: Creativity and Ideation, you hopefully have a good business idea that you are ready to run with. The next step in your entrepreneurial journey is to create a business plan. There are many reasons why a business plan is needed. First, it puts all your ideas down and gives you a solid idea of where you want to go with your business. A business plan can also help you obtain financing. But, you may wonder, what aspects of a business plan should you consider? A business plan normally includes a competitive analysis, an operations plan, a management plan, a marketing plan, budgets, and financial statements. When you put all of these elements together, you end up with a comprehensive plan you can use. This course will walk you through the steps of creating these business plan elements, so by the end of the course, you will be ready to create your own plans. Are you ready to get your business going? Let's get started.
- Unit 1: First Steps in Planning Your Business
- Unit 2: The Competitive Analysis
- Unit 3: Operations Planning
- Unit 4: Management and Marketing Planning
- Unit 5: Financial Statements and Entrepreneurial Finance Planning
- Unit 6: Other Business Planning Elements
- Compare and contrast the variety of steps and components of a business plan;
- Select a business model for an entrepreneurial venture based on internal and external analysis, competitive advantage, and business planning tools;
- Develop business structures, legal compliance protocols, and technology in entrepreneurial ventures;
- Construct an organizational structure based on business type and needs;
- Apply best practices to create business plan components; and
- Analyze financial statements used in an entrepreneurial venture.